Monetary Authority of Singapore's Data Analytics Group to unlock insights, enhance the supervision of financial institutions, make regulatory compliance more efficient, and improve efficiency.

Ravi Menon, MAS

Singapore - The
Monetary Authority of Singapore (MAS) has announced the formation
of a new Data Analytics Group (DAG) effective 15 March 2017. The
move is part of MAS' broader efforts to ready itself and the
financial sector for the digital economy of the future.

MAS has appointed Dr David Roi Hardoon as its
Chief Data Officer and Head of DAG. Dr Hardoon, who has a PhD in
machine learning, joins MAS from Azendian Solutions.

Specialist Analytics & Visualisation Office
(SAV) will conduct data analyses in partnership with
MAS departments. It will help departments improve their data
capabilities through reusable tools and code libraries, and
partner MAS Academy to deliver data analytics training
programmes. Together with MAS' IT Department, the team will
design and implement the technical infrastructure needed to
support data analytics work in MAS.

Supervisory Technology Office (SupTech) will
conduct data analyses on supervisory and financial sector data
in partnership with MAS departments. It will work with the
Fintech and Innovation Group to promote data analytics
capabilities within the financial industry and foster
innovations to make regulatory compliance more efficient and
effective.

Ravi Menon, MAS Managing Director, said, "Our
new Data Analytics Group will work with the financial industry to
sharpen the surveillance of risks, and with the various
departments within MAS to transform the way we do our
work."